On-Site
Summer schools
2024
2 ECTS, certificate of participation (by email after completion of course)
Regular fees: 499 EUR
International Fees : 499 EUR
The course is part of the Maastricht Summer School (MSS) at Maastricht University, The Netherlands. Payments will be handled by the MSS team, which is part of Maastricht University. There is no required knowledge that students need to bring to the course. Students applying for the course need not be registered as students.
See more details and registration here: https://maastricht.dreamapply.com/courses/course/183-modern-monetary-theory-and-european-macroeconomics
Dr. Dirk Ehnts
The course introduces students to Modern Money Theory (MMT) in the context of the Eurozone. The course explains money creation of central banks, banks and national governments and its macroeconomic consequences.
Course Description
The course introduces students to Modern Mony Theory (MMT) in the context of the Eurozone. The course explains money creation and its macroeconomic consequences, including the response to the pandemic, fiscal framework of the European Union and its recent reform, causes and consequences of inflation and unemployment.
The balance sheets and transactions that are relevant for understanding modern money are examined, with a focus on the Eurozone. Explanations include the idea that banks can create bank deposits through their accounting software, that governments spend first and collect taxes later and that central banks use a set of interest rates as their main tool of policy instead of manipulating the money supply.
Teaching will consist of lectures in the morning. Afternoons are free for self-study and reading.
Goals
• Knowledge of central banks and monetary policy.
• Understanding the operations of the Treasury and fiscal operations.
• Grasp of credit creation and clearing process in the banking system.
• Ability to aggregate balance sheets to use sectoral balances as a tool for macroeconomics.
• Insights on the economic history of the eurozone, its crisis and possible remedies.
Recommended Literature
Ehnts, Dirk. 2017. Modern Monetary Theory and European Macroeconomics, Abingdon: Routledge (ISBN hardcover and ebook: 978-1-138-65477-8 and 978-1-315-62303-0)
There is now a Dutch book available for a short introduction to Modern Monetary Theory:
Ehnts, Dirk. 2024. Moderne Monetaire Theorie, Walburg Pers (ISBN:9789464563009)
www.walburgpers.nl/nl/book/9789464563009/moderne-monetaire-theorie
Teaching methods
PBL
Assessment methods
Written Exam
Course Coordinator
Dr. Dirk Ehnts
Bonnefantenstraat 2
6211 KL Maastricht , Netherlands
